The IRS says it is investigating the release of wealthy Americans’ tax information. This comes after ProPublica published a report saying it obtained IRS information showing how billionaires such as Jeff Bezos, Elon Musk and Warren Buffett pay little income tax and, in some cases, paid no taxes at all. CNBC’s Jim Cramer, Carl Quintanilla and David Faber discuss. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
The Treasury Department has asked law enforcement authorities to investigate the disclosure of tax records cited in a media report that showed that some of America’s richest people paid little to no income taxes, U.S. officials said on Tuesday.
U.S. media outlet ProPublica said it obtained “a vast trove of Internal Revenue Service data on the tax returns of thousands of the nation’s wealthiest people, covering more than 15 years.” The data indicated that billionaires including Amazon founder Jeff Bezos and Tesla founder Elon Musk paid no federal income taxes during some years.
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